A post by @FirstSquawk on X.

Two tankers caught fire east of the Strait of Hormuz on Thursday, according to Iranian state broadcaster IRIB. The incident occurred in one of the world's most critical oil chokepoints, through which roughly a fifth of global petroleum consumption typically transits. Details on the vessels, cargoes and cause were not immediately specified in the initial report. The Strait of Hormuz links Gulf producers such as Saudi Arabia, Iraq, Kuwait and the UAE to global markets, so any disruption there carries outsized weight for crude prices and freight rates. Traders will watch for confirmation of the vessels involved, the extent of damage and any impact on tanker traffic and insurance costs.